Vancouver, British Columbia--(Newsfile Corp. - September 5, 2019) - Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (FSE: L0MA), a cannabis extraction and processing technology company, has been granted a U.S. patent pertaining to the company's proprietary technology for post-extraction processing of THC and CBD.
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The patent extends the company's existing patent portfolio, to include methodology relating to the removal of fats and waxes from crude cannabis oil extracts in far less time, achieving more efficient throughput rates, and a highly desirable, impurity-free, refined distillate.
Nextleaf can apply this advantage to a variety of primary extraction methods, such as CO2 or ethanol.
Paul Pedersen, CEO, stated: "Since 2017, we've been hyper-focused on acquiring, developing, and protecting IP around the underlying technology that goes into transforming plant into product. Our technology is based around what we believe to be the most efficient method to go from dried cannabis biomass into a high-purity THC or CBD rich distillate, in an efficient and truly scalable way. This being our fourth issued patent, further strengthens Nextleaf's intellectual property portfolio pertaining to industrial-scale cannabis extraction and purification."
The infused-product industry is projected to be $2.7 billion per year in Canada alone, driven largely by shifting consumer preferences from dried flower to edibles, vapes and concentrates.
The company believes IP around methodology and formulation of how those products are manufactured efficiently at scale will be one of the key differentiators in the industry.
Paul Pedersen, CEO, added: "One of the biggest issues with infused products relates to taste. With crude extracts and less refined oils, the consumer experience is affected by inferior taste and smell because of the chlorophyll, fats, and waxes. Nextleaf is able to fix those issues through its proprietary processing methodologies and equipment, which we've protected through a portfolio of four issued and 25 pending patents. We believe the success of every producer in the cannabis industry will ultimately come down to the quality of their product, and the cost per milligram to create that product. By having a technology advantage protected by defendable intellectual property, OILS will be able to drive low-cost production and maintain a competitive advantage and leadership position."
Nextleaf's IP department is focused on obtaining broad, worldwide patent coverage for the company's innovative methodologies and equipment, with an emphasis on the United States and Canada.
Nextleaf is the first publicly traded company to be issued a U.S. patent for the industrial-scale extraction and purification of cannabinoids.
Once cannabis concentrates become legal across Canada on October 17, 2019, the company plans to commercialize its intellectual property portfolio through IP licensing, and B2B processing services in jurisdictions where cannabis is federally legal.
Nextleaf's built-out, 6,540 square foot dedicated extraction and processing facility is located in Greater Vancouver, British Columbia.
For more information, please visit the company's website www.NextleafSolutions.com, contact Paul Pedersen, CEO, at paul@NextleafSolutions.com. For Investor Relations, contact Adel Fares at 604-283-2301 (ext. 201) or email investors@NextleafSolutions.com.
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